Bridgeton pioneer., 1887-04-14

the stockholders In 1850 the deposits
were $4,000; in 1860, $4,000; in 1870,
$195, 900; in 1880, $382, 600; in 1887, as per
last report, made March 4th, $514,0Oo
At the same date, the loans and dis
counts were 1914, 1926; the surplus
fund, $685. 900, with $51 ,92s. s5 undivid-
ed profits.
June 9th, 1866, the Cumberland
Bank ceased to be a State organiza-
ton, and received a charter from the
Comptroller of the Currency under
the title of Cumberland National
Bank" The period was for twenty
years and it expired in 1885, when it
was again renewed for twenty years,
to expire June 9th,s 1905. There have
been very few changes in the officers
of Cumberland Bank. General Giles
was President from 1916 to 1926, when
he died He was succeeded by Daniel
Elmer, who served from 1926 to 1S41,
retiring at that date to take seat as
Justice of the Supreme Court. James
B. Potter was President from 1841 to
1865, and Charles E. Elmer from 1865
to 1886. In January, 1886, William G.
Nixon was chosen President, and still
holds that position. The bank has
had three Cashiers. Charles Read
from 1916 to 1874; VIM. &. Nixon from
1874 to 1886; Capt. Frank NJ. Riley
from January, 1886, to the present
date.
The first notes issued by the Cum
berland Bank under the State law,
have long since disappeared and
passed from business circles, but the
officers of the bank still have several
they preserve as mementoes of the old
days. The five dollar note was neatly
executed on a thin, brownish colored
paper. 1t had picture of woman
in the foreground of a village scene,
with a sloop sailing in the distance.
The woman wasin reclining position
with basket of fruit at her feet. The
figure IS" appeared on the note near
the top a short distance from both
ends, and the word Give" appeared in
Roman letters near the margin. The
note bore the letter D. and No, and
contained the following:-''The Presi-
dent and Directors Of the Cumberland
Bank promise to pay to bearer on de-
mand 800, Bridgeton, N. j., with date
and year. There was also a 'sV" in
dtcoration at bottom of note, and the
signatures, James Giles. President,
Charles Read, Cashier.
Later on, just previous to the war,
the note was somewhat changed. The
Goddess of Liberty appeared upon it,
also the American eagle, and a scene
with the figure of an Indian
Chief in view. The note was signed
by James B. Potter, President, and
VIM. G. Nixon, Cashier The notes of
the Cumberland Bank We're very pop
ular in Bridgeton and throughout the
county at that time. Workingmen in
the nail and iron factory and the glass
works We're paid off in them, and
they were held in high esteem through
out the country wherever the bank was
known.
To show the stability and character
of the Bank, it is only necessary to
refer to the fact that it has conducted
business largely through the same
channels from the beginning to the
present day. A letter on file at the
banking house, from the cashier of the
Farmers and Mechanics Bank, of Phil
adelphia, by which an arrangement
was made to receive Cumberland notes
on deposit, dated way back in 1916,
was the commencement of business
relations with that bank, which have
never yet been broken. By strict at
tention to business and straightfor-
ward methods, reliable at all times and
under all circumstances, it has attained
a high rank in the banking and COM
mercial world, and secured the conf
dence of the people, until it has passed
into proverb that when thing is
put away securely and safely, it is
considered as ''safe and solid as Cam
berland Bank
In the new home, with greater and
more modern facilities, we look for a
still more prosperous career for the
institution which has so long been
the pride of the county.
The Board of Directors of the Cum
berland Bank for 1887, is composed of
the following gentlemen:-Jonathan
Elmer, Chas. Z. Elmer, Theophilus
Trenchard, Richard Lott, VIM. G.
Nixon, Charles s. Fithian, Richard H.
Reeve, Ephraim Bateman, Chester J.
Buck, Daniel Bacon, J. Boyd Nixon.